Michigan

SAVE ON YOUR LEGAL FEES

By CPG

Right now South Eastern Michigan and the State as a whole is struggling. This is why when drafting a contract you may want to think about the terms and opportunities to terminate these contracts for economic reasons without breaching it.

I preach that you need to develop a close inner circle of business advisers whether bankers, accountants, and or lawyers who can help protect yourself and your business. Your brain trust is extremely important as your business grows and encounters new markets and opportunities.

Here is a brief list of 5 easy things to help reduce your need for legal services in 2008 and beyond.

1.Get all important transactions (contract) in writing signed by the party to be charged with the obligation.

2.If you have partners in your business have a buy sell agreement in place for when the relationship ends.

3.Keep accurate records.

4.Request non-compete clauses from your key employees.

5.Do not use cash as a method to pay any important obligation of your company.

If 2008 is the year to start your business here in South East Michigan, start putting together your brain trust of bankers, lawyers, and accountants. http://www.lawcpg.com/SmallBusiness.html

Full post as published by MICHLAW on January 28, 2008 (boomark / email).